Indian stock markets are closed today due to the Muharram holiday.
On Tuesday, the benchmark indices—Sensex and Nifty—finished marginally higher, having shed earlier gains. The rupee settled slightly higher, reaching 83.58 against the dollar.
Asian markets showed a predominantly positive trend this morning, following U.S. shares that surged to new highs overnight fueled by optimism for a soft landing of the world's largest economy.
The dollar remained relatively unchanged, while gold continued to rise, climbing an additional 2 percent to reach a record high. This was partly due to the 10-year U.S. Treasury yield falling to a four-month low of 4.16 percent.
Oil prices edged up slightly but stayed near a one-month low, which was reached in the previous session amid concerns over weakening demand growth in China.
U.S. stocks rose for the third consecutive session on the back of positive earnings reports from major companies such as UnitedHealth, Bank of America, and Morgan Stanley.
Treasury yields continued their decline as June's retail sales data showed no change, and a measure of homebuilder sentiment fell to a seven-month low in July.
The Dow Jones Industrial Average rallied by 1.9 percent, the S&P 500 added 0.6 percent to reach new record closing highs, and the tech-heavy Nasdaq Composite saw a modest increase of 0.2 percent.
In contrast, European stocks fell for the second consecutive session on Tuesday. Luxury and commodity-related stocks were particularly affected due to concerns over Chinese demand and potential U.S. policy risks.
The pan-European STOXX 600 declined by 0.3 percent. Germany's DAX dipped 0.4 percent, the U.K.'s FTSE 100 eased by 0.2 percent, and France's CAC 40 shed 0.7 percent.
